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 Why we still go money exchange? When got ATM

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ayamAnoob
post May 3 2023, 09:08 AM

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yalo yalo

facepalm everytime i pass midvalley currency exchange stalls and see the long q.



QUOTE(GoodBoy2022 @ May 3 2023, 08:43 AM)
We can withdraw money what using CC or debit card in foreign Atm
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treblecase
post May 3 2023, 09:09 AM

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Inb4 sexysarah aka kevin cum in & say if you’re richfag you don’t care about exchange rates & charges.
krishtiano86
post May 3 2023, 09:11 AM

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QUOTE(xinanxxx @ May 3 2023, 08:57 AM)
ATM tabule cuci duit
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The real reason! brows.gif
fantasy1989
post May 3 2023, 09:12 AM

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QUOTE(Skylinestar @ May 3 2023, 09:02 AM)
Real question: Why money changer has better rates than bank?
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change in bulk and got big boss at the back can keluarpattern

PaperClip224
post May 3 2023, 09:13 AM

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QUOTE(matrix88 @ May 3 2023, 08:48 AM)
stupid rates bank going to charge you
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QUOTE(scorgio @ May 3 2023, 08:52 AM)
Take Thailand for example.
Ur bank charge RM10-12 per tranx.
Thai side charge THB200-220 per tranx.
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shhhhh
poweredbydiscuz
post May 3 2023, 09:14 AM

 
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QUOTE(Skylinestar @ May 3 2023, 09:02 AM)
Real question: Why money changer has better rates than bank?
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Because money changer wants your business more than bank.
matrix88
post May 3 2023, 09:14 AM

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money changer - you already know the rate when you change
bank withdrawal - really depend on that day bank's rate, you will never know until after the transaction + charges that might be charged
p4n6
post May 3 2023, 09:15 AM

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QUOTE(ayamAnoob @ May 3 2023, 09:08 AM)
yalo yalo

facepalm everytime i pass midvalley currency exchange stalls and see the long q.
*
A lot of malaysians are actually cash rich. Cash coming from undisclosed source.

In most countries, credit card is widely accepted and is a safe method to spend money with minimal charge (not a lot of difference as compared to money changer), however people still prefer to bring cash is actually questionable.

The only reason i can think of is money laundering.
matrix88
post May 3 2023, 09:15 AM

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TS, you can also withdraw money from your credit card called cash advance
why you never go do so?

got the feature does not mean you need to do it, ok?
sexysarah1992
post May 3 2023, 09:15 AM

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QUOTE(Skylinestar @ May 3 2023, 09:02 AM)
Real question: Why money changer has better rates than bank?
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Because banks have huge operational costs. They need higher profit margin.
AnythingK
post May 3 2023, 09:26 AM

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The charge and fees for ATM withdrawal at oversea is harga yahudi, thats why.
silverhawk
post May 3 2023, 09:36 AM

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QUOTE(Skylinestar @ May 3 2023, 09:02 AM)
Real question: Why money changer has better rates than bank?
*
Higher operational costs, stricter regulatory compliance/audits, etc.


munak991
post May 3 2023, 09:44 AM

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Skylinestar
post May 3 2023, 09:45 AM

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QUOTE(fantasy1989 @ May 3 2023, 09:12 AM)
change in bulk and got big boss at the back can keluarpattern
*
QUOTE(silverhawk @ May 3 2023, 09:36 AM)
Higher operational costs, stricter regulatory compliance/audits, etc.
*
If money changer not subjected to tight regulation and audit, it looks like a good place to keluarpattern and do illegal shit.

I have seen many money changers that operate for a few months and close shop. Dunno why.

This post has been edited by Skylinestar: May 3 2023, 09:46 AM
silverhawk
post May 3 2023, 09:54 AM

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QUOTE(Skylinestar @ May 3 2023, 09:45 AM)
If money changer not subjected to tight regulation and audit, it looks like a good place to keluarpattern and do illegal shit.

I have seen many money changers that operate for a few months and close shop. Dunno why.
*
Money changers are mostly ran by triads and also the place for money laundering. Its an open secret.
karazure
post May 3 2023, 09:55 AM

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QUOTE(GoodBoy2022 @ May 3 2023, 08:43 AM)
We can withdraw money what using CC or debit card in foreign Atm
*
kecian bodo
Skylinestar
post May 3 2023, 09:58 AM

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QUOTE(karazure @ May 3 2023, 09:55 AM)
kecian bodo
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QUOTE(pobox @ May 3 2023, 08:46 AM)
Katak
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QUOTE(nearlee @ May 3 2023, 09:05 AM)
Bodo spotted topkek
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QUOTE(Angry Clerk @ May 3 2023, 09:06 AM)
You never go overseas right.
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Don't kecam la.
Who stay in oversea for 1 year and not use atm?

This post has been edited by Skylinestar: May 3 2023, 09:59 AM
ozak
post May 3 2023, 09:59 AM

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QUOTE(p4n6 @ May 3 2023, 09:15 AM)
A lot of malaysians are actually cash rich. Cash coming from undisclosed source.

In most countries, credit card is widely accepted and is a safe method to spend money with minimal charge (not a lot of difference as compared to money changer), however people still prefer to bring cash is actually questionable.

The only reason i can think of is money laundering.
*
Cash is for backup and is much safer in case.

Electronic transfer is not reliable. And you're in a foreign country.
Ramjade
post May 3 2023, 10:01 AM

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QUOTE(GoodBoy2022 @ May 3 2023, 08:43 AM)
We can withdraw money what using CC or debit card in foreign Atm
*
You want to give free money to banks? Yes? Continue using ATM/cc/debit card.
ShadowR1
post May 3 2023, 10:03 AM

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Haiya, nape la bodo sangat.
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